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Treasury auctions · 4-week bill · highs and lows

What were the highest and lowest results at 4-week Treasury bill auctions?

As of , the highest bid-to-cover ratio at a 4-week bill auction since was 10.72 on and the lowest 1.11 on .

Last updated . This page normally updates every week; the latest update is late.

Bid-to-cover ratio

Highest 10.72 on ; lowest 1.11 on .

Data from .

Low 1.11 Midpoint 5.915 High 10.72

High discount rate

Highest 5.840% on ; lowest 0.000% at 44 auctions, the latest on .

Data from .

Low 0.000% Midpoint 2.9200% High 5.840%

Indirect bidders' share

Highest 81.5% on ; lowest 2.4% on .

Data from .

Low 2.4% Midpoint 41.95% High 81.5%

Direct bidders' share

Highest 41.9% on ; lowest 0.0% at 2 auctions, the latest on .

Data from .

Low 0.0% Midpoint 20.95% High 41.9%

Primary dealers' share

Highest 91.2% on ; lowest 13.4% on .

Data from .

Low 13.4% Midpoint 52.30% High 91.2%

Amount offered

Largest $110 billion at 15 auctions, the latest on ; smallest $5 billion at 3 auctions, the latest on .

Data from .

Low $5 billion Midpoint $57.5 billion High $110 billion

The numbers behind the chart

What were the highest and lowest of every measure?With the latest day and how many auctions share each
MeasureHighestLatest dayAuctions at itLowestLatest dayAuctions at it
Bid-to-cover ratio10.7211.111
High discount rate5.840%10.000%44
Indirect bidders' share81.5%12.4%1
Direct bidders' share41.9%10.0%2
Primary dealers' share91.2%113.4%1
Amount offered$110 billion15$5 billion3

The table scrolls sideways; the first column stays in place.

Which auctions share a high or a low?Equal as printed
  • High discount rate, lowest 0.000%: , , , , , , , and 36 auctions before them.
  • Direct bidders' share, lowest 0.0%: , .
  • Amount offered, largest $110 billion: , , , , , , , and 7 auctions before them.
  • Amount offered, smallest $5 billion: , , .

Two auctions share a value when it prints the same: a ratio to two places, a rate to three, a share to one decimal, an amount to the dollar.

What do the figures leave out, and how are they cited?Limits, dates and how to cite

Auctions of exactly twenty-five million dollars, taken only by primary dealers, are left out of these comparisons.

The amount offered is compared across new issues and reopenings here: this page lists the largest and smallest amounts, not a run of like with like. Single auctions have their own pages where Treasury published the bidder amounts; a bill auction has none.

Observed .

Shares of competitive bids, grades against earlier auctions and the high-minus-median spread are computed by 500metrics from Treasury's published fields.

How to cite this

U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data, through 15 October 2026. Compiled by 500metrics, "What were the highest and lowest results at 4-week Treasury bill auctions?", https://500metrics.com/treasury/auctions/4-week-bill/records.

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